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; n8 T4 h2 k/ a" QBelow is an Interesting article I found, which says that.....Do not g9 D. V/ ~1 i. V2 i- N" [
expect much from Crude Oil producers and future is not with the 7 I1 |; N8 F8 ]' M
companies producing Jet fuels but Biofuels. Also no wonder if some of $ j# i; T7 `# A5 ]2 z' V' G: q) w
these oil producer will go bankrupt or out of the business even if
. {9 s2 |6 Q0 v D7 K+ ^0 Mcrude prices improves. This implies also to good names such as Shell, * p! l3 v2 G8 q* X# f
EXXON, BG, BP, Cheveron ....xyz.. oils
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, u& v8 N5 o( p1 j5 L/ lRecently OPEC reduced crude oil production twice over just a few - q& @" m% `7 R2 ~2 M/ ]
months. There are three wars going on in Gaza, Iraq and Afghandistan.
0 Q! |4 F8 C k6 J: u3 J$ d5 nA year ago these things would have spiked the price of crude oil by at 2 i9 a" }& J: @- @0 e: x. @7 m
least $50.00 per barrel. Today, oil price declined by a record amount.
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8 j3 }6 U( J/ r1 R. oThere are several reasons the price of oil is decreasing in the face
! j! P! ~0 w) lof so much news. These reasons are:
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+ }4 K( M- _4 h. u w2 i1. New oil has been found in Canada, Montana, North & South Dakota and
7 i) }5 C1 \9 H% m6 din the ocean near Brazil. Each of these oil fields has more oil than
4 }' j2 \" Y. NArabia.
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2. New natural gas has been found in Pennsylvania and West Virginia. 6 n7 |/ g( F. {
This is the largest find in North America. q# E' N, T8 f0 \
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3. New methods of injecting CO2 and surfactants into oil wells is
2 Z! _ t% i) zbeing used to double their output. * F, j7 h& I! [9 c. l
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4. Production of bio-fuels is beginning to reach critical mass. Bio
* G0 s+ M! m( zfuel is being produced from many plants and algae. The production
& ^. y1 K: h9 Ypotential per acre in some cases is astounding. Many countries are
6 G" |9 _1 |4 Mracing to produce bio fuels.
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5. Virtually every restaurant in the US and all food processing plants
9 u, R$ z% g/ Q8 c' w Fare now selling their used oil to bio-diesel producers. Every pork, " W/ z: o9 p$ V1 Q3 K
cattle, turkey and chicken processing plant will soon sell their fat R/ _1 G" T! p; X0 l
to bio-diesel producers. One pork processing plant in Oklahoma is
- ?1 f# M% i; v; kproducing 30,000 gallons of bio-diesel per day from pork fat. 3 H6 e" u$ M6 f) g7 E: m$ J
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( s9 I( a( C2 x( ]6. There are 99 nuclear reactors in various stages of planning and
2 L- H# G8 `3 g1 G8 {9 d$ E$ oconstruction around the world at this time. Several hundred more are
8 A g# w1 C7 K; H& M3 zexpected to be built in the future. Much of the energy they produce + V0 r; @& \8 B0 v. n
will replace oil. 8 `' C6 `; _0 H$ i! }
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7. Every company in any form of transportaion business is replacing
, w- S3 S/ p! ^" t6 a z1 s7 q# bolder equipment such as trucks, airplanes, train engines, ships, etc. 2 h, z: \+ h/ N( @* u
with new more fuel efficient equipment. Airlines and railway companies & D6 `4 Q+ ~8 W4 m1 u, G9 a7 T
are experiencing 20% to 25% better fuel econony with the new
% M: k {7 D" _equipment. : M" f/ N3 Q7 |. A
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Airlines are flying airplanes with bio-fuel. They are finding the bio-
1 x- C$ |1 V8 y; Z# g! ~fuel is cleaner and performs better than jet fuel. 0 K, ]' @4 {$ @2 k, t
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8. Cities and counties throughout the US are selling the rights to ' p) c6 X% ~3 g% s8 Q u; i; F
capture methane gas from landfills. This is a huge source of gas " `' g5 f3 ^* v
available at very little cost or risk. The gas is displacing crude 6 q _, J1 }( I: `
oil.
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9. Coal is being transformed into a clean burning liquid fuel. The CO2
2 U5 V+ j K. S0 O% j. V/ P* ^8 iproduced as a byproduct is sold to oil companies for injection into
( [- J7 ? `0 k5 K3 }& K {* hoil wells.
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$ ] a* r6 e5 Q# D2 M1 |8 H10. Solar, wind and ocean energy is displacing oil as an energy ! u7 b3 W; ^! ^. v
source. Three new wind turbines are being erected every day in the US.
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Each of the above by itself will not make a large difference in the 9 a" g# }; z& D0 x: ^& X
price of crude oil but the sum of all of them together is world 8 @ {2 ~ b% Q0 Z/ {: y) C$ _
changing. The important thing is that OPEC no longer has the ability
2 L3 U6 F0 e5 `7 X- `* eto control oil prices.
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With the above scenario, I still believe that there are under
0 J4 m$ Q7 ~: `6 n3 n' kperformed OIL companies and probably they are yet to get the justified " P/ l. D( Z1 z" f$ q
value .....
6 x# I0 B( T8 j; Y) Q, K6 R* zIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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1 x l7 J. F' F7 f1 E* A$ @2 |The above articles are from WSJ .............PUBLISHED ON 9TH JAN 9 w+ x9 f( W6 b, p' o2 c8 q! P
2009 ... FYI-Only |
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